February 26 - The former press and broadcast centres on the London 2012 Olympic Park will be transformed into a "world-leading creative and digital cluster", after plans for the development were approved.
The Planning Committee of the London Legacy Development Corporation (LLDC), which is responsible for the regeneration legacy of the London 2012 Games, has given the green light to iCITY's plans
The hub, to be called Here East, will offer some of the "most advanced digital infrastructure in the world, including almost unlimited bandwidth connectivity and the highest capacity power", those behind it say.
The development on the Queen Elizabeth Olympic Park, which is home to 2012 Olympic and Paralympic venues including the soon-to-reopen Aquatics Centre, and the Olympic Stadium, will create 7,500 jobs, it is claimed.
More than 5,000 of these will be "on site" jobs, with 2,200 created in the local community "through the impact of using local supply chains and new business generation".
"As well as creating thousands of jobs and training opportunities, Here East will provide state of the art infrastructure and capacity for the fastest growing sectors of the UK economy to continue their impressive expansion," said iCITY chief executive Gavin Poole.
"I am delighted that our designs and plans to develop a world-leading cluster for cutting-edge creative and digital companies have been approved."
The development will be showcased in March at South By Southwest Interactive in Austin, Texas - the world's largest interactive, music and film festival.
Here East will team up with Hackney House - Hackney Council's alternative trade mission - to showcase its plans to support London's growing creative and digital community.
Dennis Hone, chief executive of the Legacy Company, said: "This is an exciting legacy, as the buildings that were used to house thousands of journalists during the London 2012 Olympic and Paralympic Games will now create thousands of jobs.
"As the Park opens to the public on 5 April, this is another part of our plan to create a new heart of the city with world class sporting venues as well as new homes and employment opportunities."
iCITY say Here East will bring global companies together with East London's most innovative start-ups under one million square feet of space.
BT Sport is already broadcasting live from the site, with key tenants Loughborough University, Hackney Community College and Infinity SDC set to relocate to it in 2015.
London Mayor Boris Johnson said: "I'm delighted that the plans for Here East, which will become a world leading digital hub have been approved.
"It will provide thousands of high quality jobs and be a real jewel in the crown of Queen Elizabeth Olympic Park."
iCITY is a joint venture between Delancey, a specialist real estate investment and advisory company, and Infinity SDC, the UK's leading data centre operator.
The development will be made up of three main buildings: a 300,000 sq ft innovation centre; a 1,000 seat auditorium; and a 850,000 sq ft building housing educational space, broadcast studios, office space, and a state-of-the-art data centre.
Here East plans to choose its preferred contractor in March, with construction work on the former press and broadcast centres due to begin in the summer.
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November 2013: Planning permission submitted for London 2012 Olympic Park Media Centre redevelopment
October 2013: Ambitious new design plans to transform London 2012 Olympic Park Media Centre unveiled
December 2012: BT confirmed as tenant for London 2012 International Broadcast Centre
July 2012: London 2012 Olympic media building set to be turned into cloud computing centre
February 2012: London 2012 IBC and MPC will avoid pitfalls of Millennium Dome, promises senior OPLC executive